For those looking to find strong Medical stocks, it is prudent to search for companies in the group that are outperforming their peers. Is Amarin (AMRN) one of those stocks right now? By taking a look at the stock's year-to-date performance in comparison to its Medical peers, we might be able to answer that question.
Amarin is a member of the Medical sector. This group includes 979 individual stocks and currently holds a Zacks Sector Rank of #7. The Zacks Sector Rank considers 16 different groups, measuring the average Zacks Rank of the individual stocks within the sector to gauge the strength of each group.
The Zacks Rank is a proven system that emphasizes earnings estimates and estimate revisions, highlighting a variety of stocks that are displaying the right characteristics to beat the market over the next one to three months. Amarin is currently sporting a Zacks Rank of #2 (Buy).
Within the past quarter, the Zacks Consensus Estimate for AMRN's full-year earnings has moved 50.1% higher. This signals that analyst sentiment is improving and the stock's earnings outlook is more positive.
Our latest available data shows that AMRN has returned about 56% since the start of the calendar year. At the same time, Medical stocks have lost an average of 6.1%. This means that Amarin is performing better than its sector in terms of year-to-date returns.
Another stock in the Medical sector, Bayer Aktiengesellschaft (BAYRY), has outperformed the sector so far this year. The stock's year-to-date return is 63.1%.
The consensus estimate for Bayer Aktiengesellschaft's current year EPS has increased 6% over the past three months. The stock currently has a Zacks Rank #2 (Buy).
To break things down more, Amarin belongs to the Medical - Biomedical and Genetics industry, a group that includes 489 individual companies and currently sits at #144 in the Zacks Industry Rank. On average, stocks in this group have gained 0.2% this year, meaning that AMRN is performing better in terms of year-to-date returns.
Bayer Aktiengesellschaft, however, belongs to the Large Cap Pharmaceuticals industry. Currently, this 10-stock industry is ranked #90. The industry has moved -3.7% so far this year.
Investors with an interest in Medical stocks should continue to track Amarin and Bayer Aktiengesellschaft. These stocks will be looking to continue their solid performance.
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Amarin Corporation PLC (AMRN): Free Stock Analysis Report Bayer Aktiengesellschaft (BAYRY): Free Stock Analysis ReportThis article originally published on Zacks Investment Research (zacks.com).
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